Jay-Z Listed As Only Rapper On Forbes 2023 World’s Billionaires List, Kanye West Falls Off After His Net Worth Takes Huge Hit
Congratulations are in order for Jay-Z!
According to Forbes‘ 2023 World’s Billionaires List, the Brooklyn native is the only rapper featured on the prestigious rundown. Jay-Z is sitting on a net worth of $2.5 billion, an increase from his previously reported $1.5 billion net worth.
According to Forbes, Jay-Z ranks at #1217 on the list, tying with Oprah Winfrey and Donald Trump. He came in higher than some, including Tom Ford ($2.2 billion) and Michael Jordan ($2 billion). As no surprise, Elon Musk ($180 Billion) and Jeff Bezos ($114 Billion) are at the top of the billionaires club.
The outlet reports that Hov has amassed his fortune through his lucrative liquor businesses. In 2021, spirits giant LVMH purchased a 50 percent stake in Jay’s champagne empire, Armand de Brignac, better known as Ace of Spades. Additionally, the rapper-turned-business-mogul sold a majority of his stake in his cognac brand D’Usse to Bacardi in February.
His other assets range from a fine art collection including works by Jean-Michel Basquiat, his music catalog, and shares in companies like Block and Uber.
One rapper who is no longer on the billionaire’s list is Kanye West. The Chicago rapper dramatically fell off the list after Adidas parted ways with Kanye last year following his problematic behavior within the company as well as his antisemitic comments on social media and in interviews.
Since being cut by multiple companies, the majority of Kanye’s financial value is coming from a select few sources such as; real estate, liquid cash, his music catalog, and a less than 5% stake in Kim Kardashian’s SKIMS brand, according to Forbes.
Forbes claims Kanye is now worth somewhere in the ballpark of $400 million. He was previously said to be worth around $2 billion.
Other notable celebs on this list include Rihanna ($1.4 Billion), Lebron James ($1 Billion), and Tiger Woods ($1.1 Billion).
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[Source: 1, 2, 3 ]
The post Jay-Z Listed As Only Rapper On Forbes 2023 World’s Billionaires List, Kanye West Falls Off After His Net Worth Takes Huge Hit appeared first on theJasmineBRAND.
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